The Biggest Massachusetts City with the Cheapest Rent is in the Berkshires
Inflation is everywhere! There's no secret that prices have been going up globally, so of course it affects nearly everything in our every day life. Prices on everything are higher and it can definitely be an adjustment for everyone. This includes our cost of living. Of course, the biggest expense in our cost of living is for our place of residence. For renters, it just so happens that the biggest city in Massachusetts that has the cheapest rent is right here in the Berkshires.
Recently, 24/7 Wall St. researched what the biggest city in each state is that has the cheapest rent as it used the median gross rent from a five-year period based on the U.S. Census Bureau's 2020 American Survey. Granted, the data is from the survey that was done for the 2020 survey, but it is also the U.S. Census Bureau's most recent data collected.
Sure enough, as it turns out, the biggest city in Massachusetts with the cheapest rent is none other than Pittsfield!
The median monthly price of rent in Pittsfield is $894. That is more than $400 cheaper than the statewide average of $1,336. The Bay State's share of income that is typically spent on rent is almost 30 percent at 29.6. Pittsfield's rent is 29.9 percent so that is relatively on par for the state. The rental occupied housing units stands right at 30 percent for Pittsfield, which is less than Massachusetts 37.5 statewide percentage.
Another big factor in this research is that median home values in Pittsfield are far less than they are throughout the entire state of Massachusetts. Pittsfield's median home value is $221,000, while the statewide average is $398,800. With Pittsfield real estate being substantially less than the state average, that definitely gives plenty of explanation as to why overall rent is far cheaper here than the rest of the state.
And sure, everyone wishes they could pay so much less for their rent, but given where we're at in the Bay State, we're getting off pretty easy from a financial standpoint. I think we'll take that.